Brief: Squirrel Media Reaches Agreement For Debt-To-Equity Conversion
27/03/2025 07:15
March 27 (Reuters) - Squirrel Media SA SQRL.MC: DEBT-TO-EQUITY CONVERSION THROUGH THE ISSUANCE OF NEW SHARES AT 3.20 EUROS PER SHARE REACHED AGREEMENT WITH FOUNDING PARTNERS OF IKI GROUP AND COMERCIAL TV AGREEMENT FOR CAPITALIZATION OF DEFERRED AMOUNTS CONTEMPLATED IN THE RESPECTIVE INTEGRATION AGREEMENTS GRUPO IKI AND COMERCIAL TV AGREES TO CONVERT OUTSTANDING PAYMENTS (6.3 MILLION EUROS) INTO SHARES OF SQUIRREL MEDIA TRANSACTION TO BE CARRIED OUT THROUGH ISSUANCE OF A TOTAL OF 1.96 MILLION NEW SHARES OF SQUIRREL MEDIA VIA RESTRICTED CAPITAL INCREASE UNDER AGREEMENT, SQUIRREL MEDIA AND SHAREHOLDERS OF IKI GROUP AND COMERCIAL TV HAVE ESTABLISHED A 3 YEAR LOCK-UP COMMITMENT SHARE EXCHANGE, ACQUISITION OF REMAINING 25%, CAPITALIZATION OF GRUPO GANGA'S DEFERRED PAYMENTS AND ACQUISITION OF PRETOPAY, TIPSTERPAGE, AND OTHER TECHNOLOGY COMPANIES WILL RESULT IN CAPITAL INCREASE OF ABOUT 5.9 MILLION SHARES ANTICIPATES THAT IBEX TECHNICAL ADVISORY COMMITTEE WILL APPROVE ITS INCLUSION IN IBEX SMALL CAPS INDEX IN NEXT QUARTERLY REVIEW Source text: ID:nCNMg0FTPF Further company coverage: SQRL.MC (Gdansk Newsroom) ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))